Continuous R&D to Expand Therapeutic Use of Platelet-rich Plasma (PRP) in Regenerative Therapies Offer Profitable Opportunities to Platelet-rich Plasma Market Players; Global Market Valuation to reach US$ 811.34 Mn by 2030: TMR Study

ALBANY, N.Y., Sept. 8, 2021 /PRNewswire/ -- Transparency Market Research: Clinical recommendations on the use of platelet-rich plasma (PRP) in various regenerative therapies have grown considerably, notably for tissue regeneration. PRP-derived products are emerging as a promising treatment for musculoskeletal diseases, spinal injuries, cosmetic surgeries, and pain management, propelling investments in the platelet-rich plasma market. The evaluation of autologous platelet-rich plasma has generated considerable interest among industry players engaged in orthopedics and stem cell research.

Advancements in preparation techniques have led to the advent of PRP injections that show clinical efficacy in chronic complex wound healing, skin care therapies, and musculoskeletal medicine. The near future will witness large clinical trials to establish the clinical outcomes of platelet-rich plasma derived growth factors, and will vastly shape the market structure, notes a study on the platelet rich plasma market. The global market is projected to reach US$ 811.34 Mn by 2030.

In recent months, the convalescent plasma therapy has risen in popularity in treating COVID-19 patients. However, its use is restricted to some subset of patients. Furthermore, the rapid administration of COVID-19 vaccines in various countries has weakened R&D on such therapies. Nonetheless, ongoing randomized controlled trials (RCTs) will explore the specific role of the convalescent plasma therapy in managing COVID-like outbreaks in the near future.

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Key Findings in Platelet-rich Plasma Market Study

• Diverse Medical Applications of PRP-derived Products Underpins Massive Revenue Potential: The growing clinical potential of platelet-rich plasma in tissue repair strategies has expanded its application in the medical sector significantly Technological advancements in preparing PRP-derived products have led to the clinical acceptance of PRP bioformulations. A number of clinical trials and preclinical studies have established the therapeutic potential of PRP formulations in treating skeletal muscle disorders, pain management, and osteoarthritis. In particular, research on autologous PRP has attracted massive investments by pharmaceutical companies, enriching the revenue streams in the platelet-rich plasma market. Thus, industry players are evaluating PRP mechanism in intra-articular treatment for knee osteoarthritis.
• New PRP Formulations for Skin Care, Androgenetic Alopecia to Offer Incremental Opportunities: The worldwide prevalence of androgenetic alopecia (AGA) is a key driver for the rising number of effective therapies for its treatment, propelling PRP products to the forefront. Two key factors have triggered interest in RRP growth factors, namely, minimal invasiveness and lower cost than hair restoration surgeries.
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• Product Preparation Standardization Protocols to Shape Future Revenue Generation: Over the years, lack in product preparation standardization protocols and poor platelet-derived product characterization in various key markets have garnered considerable attention of regulators and companies alike. They are making concerted efforts toward developing PRP formulations that incorporate better PRP preparation models during the clinical trial phases. The focus will help build consensus on standardized PRP preparations, and improve the safety and efficacy of the final products. 

Platelet-rich Plasma Market: Drivers

• Prevalence of chronic diseases and growing incidence of chronic injuries around the world have fueled research in PRP biological treatments
• Booming medical tourism, especially in emerging economies, and growing government funding in developed economies to meet unmet medical needs in tissue repair therapies in various patient populations have enriched the plasma-rich plasma market value chain
• Growing number of product approvals in platelet-rich plasma therapies is driving the demand in the platelet-rich plasma market

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Platelet-rich Plasma Market: Regional Growth Dynamics

• North America held major share of the global market in 2019. The prominence of the market in the region can be ascribed to the vast uptake of cosmetic surgeries, large clinical trials in orthobiologics, and rise in RRP applications in regenerative medicine treatment plans.
• Opportunities for the market players in Asia Pacific are expected to rise rapidly during the forecast period. Expanding target patient base has fueled indications for RRP therapies, thereby propelling the Asia Pacific platelet-rich plasma market.

Platelet-rich Plasma Market: Key Players

Some of the key players in the platelet-rich plasma market are DePuy Synthes Companies, Zimmer Biomet Holdings, Inc., ISTO Biologics, EmCyte Corporation, and Arthrex, Inc.

Global Platelet-rich Plasma Market: Segmentation

• Platelet-rich Plasma Market, by Type
• Pure Platelet-rich Plasma
• Leukocyte Plateletrich Plasma
• Pure Platelet-rich Fibrin
• Platelet-rich Plasma Market, by Origin
• Autologous
• Allogeneic
• Homologous
• Platelet-rich Plasma Market, by Application
• Orthopedic Surgery
• Cosmetic Surgery
• General Surgery
• Neurosurgery
• Others
• Platelet-rich Plasma Market, by Region
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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